I need some help !!!!

Hello everyone ! I found this forum the other day on Google and spent 4 hours reading about everyones good/bad luck stories. I found alot of stuff very helpful and alot of stuff funny. Anyway, I thought I'd join seeing I just bought a 2 door 92 GP SE with the 3.4 V6. The car itself is in great condition inside and out. The motor however has 120,000 miles and is a whole other story. I bought the car off ebay for $120 bucks! Seeing that it was the next town over, I drove her home after a jump from my jumperbox. I started to think this was too good to be true, a 92 GP SE for $120 ??? So I get home and left the car running to charge the batt more. About 10 min later I go back to shut it off and noticed a puddle of oil under the engine. OF COURSE !!! $120 TOO GOOD TO BE TRUE......... So I was reading up on the 3.4 engines and read some good and bad stories. The oil leak seems to coming from the dist O-ring.

So I guess what I'd like to know from you guys is ..... Is it worth rebuilding? replacing? or will a 3.1 or maybe a newer SC3.8 swap work for me. I'm on sort of a budget and can do all the work myself in my garage. I was looking around for the 3.4's but they are really pricey. I was thinking about the 3.1's cause they are everywhere for cheap but I don't want to lose too much performance. What do you guys think? The car is way too nice to scrap HELPPPPPPPPPPPP !!!!!!!

Thanks >>>>>>>>>>

Well, if you have the money you can do anytihng, even a L67 swap. But you have to consider the costs involved. You have to get a new PCM (computer), tranmission 4t65e-HD and since it's the pre-97 design other logisitical challenges.

Fix the problem or rebuild the engine would be my solution.

did the engine blow up due to running out of oil, or is it just the o-ring leaking? If it's just an oil leak, the o-ring is a VERY simple fix and cheap. Let us know.

Well lucky enough I caught it before it dumped all of its oil on my garage floor ! The car will start right up and doesn't start leaking til it heats up. I also forgot to note that the car sat for 11 months before I bought it. Some of the seals may have dried out.? I dunno??? Another thing too is I'm guessing that the leak is the o-ring. Where else would that amount of oil come from? And it looks to be in the general vacinity of the dist area. I could't get a really good look at it due to the engine being hot. I was able to check the tightness of the oil filter and that was good. Before the engine starts to leak it seems to run pretty good. I do hear a light ticking noise but nothing that sounds BAD. I drove it about 3 miles nice and easy to my house when I bought her knowing that the car sat almost a year. All 4 disc brakes had surface rust on them and wanted to make sure I would stop at the light. The oil pressure was good, the temp was good everything seems to be fine. I'm going to attempt degreasing the engine and then I may be able to determine where the leak is really coming from. Any input would be great ! Thanks guys.

It could be a rear main seal leak, but that would be under the car only. If you see oil across the top of the engine, dripping down around where the engine and trans mate, then you have a leaky o-ring on the oil pump drive (distributor stub shaft)

i think to swap to L67 may be a little expensive...it is possible. A 97 GTP or Regal GS with around 100K can be bought for around $4000... Since you said you heard ticking there may already have been previous damage due to loss of oil...your best bet is to find the leak and determine the cost to fix it plus the ticking sound too...if you can get a 3.1 cheap it may pay for you to replace it with that and sell the car for top dollar.....